Advantage Life Completes Purchase of Lasting Cosmetics

Advantage Life Products Inc. said Wednesday that it has completed its acquisition of Lasting Cosmetics Inc., a New York-based cosmetics firm.

The Laguna Hills company purchased all of Lasting Cosmetics' assets and assumed all contracts in exchange for 1.47 million shares of Advantage Life stock. Advantage named Lasting Cosmetics President Michael Ackerman as chief executive officer--a position formerly held by the company's founder, Don Danks, who will remain president.

Lasting Cosmetics makes a smudge-proof lipstick called Lasting Kiss and a hair color touch-up kit, Secret Color.

Advantage Life common stock closed at $1.69 a share on NASDAQ Wednesday, up from $1.47.

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